Grab and StraitsX, the stablecoin-native settlement layer driving global finance, have signed a memorandum of understanding (MOU) to explore the development of Web3-enabled payments infrastructure across Asia. The initiative aims to bring digital asset wallets and stablecoin settlement into everyday consumer experiences across the region, centred on two core components: a Web3-connected wallet integrated into the Grab app, and a stablecoin-based payment network supporting compliant, secure and efficient clearing and settlement across participating markets.

As part of the MOU, StraitsX will support the technical development of Web3 wallets within the Grab platform, focusing on compliant custodial and programmable functionalities that enable payment processing, clearing and settlement through smart contracts.

The proposed collaboration will assess regulatory and technical requirements for equipping each participating merchant with a Web3-compatible wallet, integrated with existing Web2 payment rails and Web3 settlement. The integration is intended to allow GrabPay merchants across major Asian markets to accept stablecoin payments from domestic and international consumers via widely used Web3 wallets, while preserving a familiar digital payment experience. The collaboration will also account for evolving money-laundering and terrorism-financing typologies and ensure that risks arising from this integration are appropriately mitigated.

Subject to regulatory requirements, Grab users may be able to hold and transact with stablecoins such as StraitsX-issued XSGD and XUSD, which are designed for enterprise-grade, cross-border settlement. Users may also have the option to convert between fiat and other stablecoins within the app.

The new Web3-enabled payment layer aims to address longstanding inefficiencies by enhancing connectivity across Asia and enabling real-time, FX-transparent cross-border settlement. Southeast Asia’s payments landscape remains fragmented, with merchant-card fees for credit cards and other payment methods significantly higher than those on real-time payment rails.

“Southeast Asia is one of the world’s fastest-growing digital economies, but payments remain fragmented and costly. By uniting Grab’s scale with StraitsX’s established stablecoin infrastructure, proven track record in market expansion and network of partners across broader Asia, we can deliver a financial network that is faster, cheaper, more inclusive and regulatory-compliant. This collaboration will accelerate the growth of Southeast Asia’s digital economy on an interoperable payments infrastructure of the future,” said Tianwei Liu, co-founder and CEO of StraitsX.

From fragmented systems to a unified network

The Web3-connected wallet will enable Grab users across markets to engage seamlessly with the digital asset economy. Users will be able to conduct cross-border payments and pull funds directly from existing Web3 wallets within a single platform. For merchants, programmable settlement features and on-chain treasury tools will offer new liquidity and capital-management efficiencies.

The Web3-enabled payment network will operate as a one-time integration layer, turning a patchwork of country-specific and method-specific systems into a single interoperable framework. This not only creates interoperability but also forms a base for future payments innovation: programmable wallets enabling new financial experiences, treasury tools that optimise liquidity, and financial products designed to scale responsibly within regulated environments.

“Grab sees potential for Web3 technologies to improve cross-border retail payments while providing a familiar experience for users. We look forward to working with StraitsX to bring their capabilities and expertise to bear in solving these problems for our consumers and merchants,” said Kell Jay Lim, head of Grab Financial.

Looking ahead, Grab and StraitsX will continue to advance a shared roadmap to expand adoption and interoperability across key Asian markets. The initiative will build on a common foundation for settlement and digital asset connectivity, enabling institutions, enterprises and consumers to transact seamlessly across borders as Southeast Asia becomes a centre of gravity for regulated digital-asset innovation and real-world payments in the next era of global finance.